Episode 31: "What to Do if Social Security Benefits Get Cut"

𝗖𝗼𝘂𝗹𝗱 S𝗼𝗰𝗶𝗮𝗹 S𝗲𝗰𝘂𝗿𝗶𝘁𝘆 Benefits be 𝗿𝗲𝗱𝘂𝗰𝗲d by 𝟮𝟬% in 2033 or 2034? It’s hard to believe that’ll happen, but if it does, will you be prepared? That’s the topic 𝗧𝗼𝗺 and Kristin 𝗱𝗲𝗹𝘃𝗲 𝗶𝗻𝘁𝗼 this week. They’ll share some of the reasons why 𝗦𝗼𝗰𝗶𝗮𝗹 𝗦𝗲𝗰𝘂𝗿𝗶𝘁𝘆 could be reduced, and more importantly, provide some solid tips on what you can do now to financially prepare in case future 𝗯𝗲𝗻𝗲𝗳𝗶𝘁𝘀 are reduced. Don't leave your retirement security to chance-empower yourself with the knowledge and tools to build a resilient financial plan. Jump to a segment using the 𝘁𝗶𝗺𝗲𝘀𝘁𝗮𝗺𝗽𝘀 𝗯𝗲𝗹𝗼𝘄! 👇 TIMESTAMPS 00:00 What to do if Social Security benefits are cut? 04:00 Reasons why there is confusion on the impact date and amount 05:50 How to prepare for a benefit cut? #1 Increase savings & investments 14:25 How retirement plans can help you plan 17:44 How to prepare for a benefit cut? #2: Reduce debt 21:25 Optimize Social Security 30:42 How to prepare for a benefit cut? #3: Consider additional income streams 40:20 Listener Question: Forced into retirement at 57 with a pension. Can I retire? 43:45 Listener Question: Are there annuities that cover both spouses? 47:35 How to do I look at my 401K account? I’ve never paid attention to it.
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Learn the key components you need to include in your retirement plan: Check this video out: https://youtu.be/QkJzvbZ_gDs
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